Oh hell yeah, gimme the deets
Basically, a more successful WWF-analogue gets sunk in 1992-93 by a steroid scandal-analogue that's much more serious. This company has done enough to the US scene to make wrestling synonymous with them, on top of poaching all the talent, and it crashes in flames, killing the US mainstream interest in wrestling. European wrestling fans aren't affected as much because the more ring-oriented European wrestling scene is able to draw a contrast with "that fake American nonsense". We start in 2013, 20 years after the alt-WWF collapsed, and the US is still a place where wrestling is irrelevant outside of hardcore fans, who have been variously influenced by Lucha Libre, puro, MMA, territory brawling, and the European style.
There's also some details like Mexico's second promotion basically being FMW in terms of origin and style, the CHIKARA-equivalent existing in the UK, and the only remnant of the alt-WWF style being in Russia, where it has a monopoly.